Russian loans in view as PSB, Otkritie and Acron line up

By Dan Alderson
23 Oct 2014

The year could still see more Russian loans being signed, with Otkritie Financial Corp Bank and Promsvyazbank deals likely and Acron reviving discussions, say loans bankers. But the overall outlook for Russian borrowing in 2015 has become bleaker this week amid falling oil prices, the growing prospect of a recession and speculation around a possible sovereign downgrade.

Private bank Otkritie (which acquired Nomos Bank) is likely to achieve a one-year extension of the $240m loan it signed last year, say bankers, and has a “very committed” group of lenders to do the deal. But pricing on the loan is likely to ...

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